Q: If investment taxes are going up, are there ways for investors to avoid paying the higher rate?

A: Unless you're going to move to some remote island, taxes are part of investing. Capital gains, for most people, are taxable.

With that said, there's a strong possibility that taxes in the future will be higher than they are now. And that's why many investors are paying special attention to managing the tax hit they might suffer in 2013 and beyond.

One of the easiest way for investors to protect themselves against future tax increases is by creating a Roth IRA. With a Roth IRA, you contribute money that's already been taxed at the current tax rate. When you take money out, years from now, you don't have to pay taxes on the money you contributed or earnings, if you follow the withdrawal rules.

Another approach, one that's very popular with investors, is to sell your winning stocks in a year that capital gains taxes are relatively low, such as 2012. By selling now, and locking in capital gains, you can ensure that you pay the current tax rates rather than those in the future.

And if you're worried about future tax rates, you might be a bit skeptical of retirement plans such as standard 401(k) plans. With these plans, you get a tax break now, but must pay future tax rates on all withdrawals. This might be a bum deal if tax rates rise. However, such plans that defer taxes can still be a good idea if you take the money out after you're retired and you're in a lower tax bracket since your income is lower.